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"This paper analyzes the links between corporate tax avoidance, the growth of high-powered incentives for managers, and …
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I find that corporate boards frequently link CEO compensation to subjective performance measures that are neither accounting ratios nor stock returns. Subjective measurement incorporates soft information privately observed by the board about the CEO's contribution to long-term firm value. I show...
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This paper analyzes the links between corporate tax avoidance, the growth of high-powered incentives for managers, and …
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